Sometimes it is worth the slippage to get a market buy or sell in during a bull run or crash, but its generally better to plan ahead and avoid being in this situation.
Understanding the Different Order Types | Binance Academy
What is a limit order? TIP : You have to set your buy limit lower than the market price and your sell limit higher than the market price. Otherwise, it is essentially a market order as your limit has already been met. A good tactic is tiering your limits. TIP : You can use bots to trade. There is a risk and a learning curve, but they can be useful for placing tiered limit orders and avoiding having to place stops.
The Complete Guide to Cryptocurrency Exchange Order Types
TIP : With limit orders, you can usually pick between fill-or-kill either fill the whole order or none of it or partial fill which will fill only part of the order if that is all that can be filled. Partial fill is often the best choice, but not all exchanges give the option and the best choice for you depends on your goals.
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What is a stop order? A stop order a buy-stop or stop-loss is when you choose a price higher for selling, or lower for buying, that you want to trigger a market order at to protect losses or take advantage of a run-up. Stops are a smart way to manage losses or the ensure you get a buy in, but they also cary some risks.
The risk come from that fact that the market is often volatile and sometimes there is low volumes. Did you hear about the time Ether went to tens cents from something like three hundred for a moment? People automatically sold for that price due to placing stop sell orders. That is because stop sell orders initiate a market order when you hit the stop price. If you and everyone else on earth sets a stop for that magic price suggested by popular-crypto-magazine X… that means everyone and their mother will set off a market order to sell or buy at the same time.
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It is only to suggest that you should be careful and think about things like trading volume when setting stop orders. You can even set multiple stops to catch different prices.
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TIP : You can use trading pairs to avoid using stops although this only works if one coin goes down or up relative to another. What you do is, for example, set Ether to sell to Bitcoin if Bitcoin goes down or Ether up, and Ether to Bitcoin if Bitcoin goes down or Ether goes up. This way you protect your coins without ever going to USD. The winner : There is a time and place for every order type even the odd stop buy order. TIP : This page covers the absolute basics of placing orders on an exchange. Currently there are only two orders that will buy at or over that price: His offer matches the orders of Fabienne and George.
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Learn more. How do buy and sell orders work? Ask Question. Asked 7 years, 2 months ago. Active 3 years ago.
Viewed 20k times. How does buying and selling bitcoins work once the order is placed? Improve this question.
Crypto Trading 101: How to Read an Exchange Order Book
Add a comment. Active Oldest Votes. Improve this answer. Just one quick question: Cryptsy applies a fee of 0. Who pays that fee? I think it is the easiest when the fee is applied after the order and offer have been matched.